Spectrum Brands Holdings Inc. (NYSE:SPB) Receives $83.00 Consensus Target Price from Brokerages

Spectrum Brands Holdings Inc. (NYSE:SPB) has been given a consensus rating of “Moderate Buy” by the seven analysts that are covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $83.00.

A number of equities analysts recently issued reports on the stock. Wells Fargo & Company raised their price objective on shares of Spectrum Brands from $62.00 to $80.00 and gave the stock an “equal weight” rating in a report on Friday, February 6th. Oppenheimer raised their price objective on shares of Spectrum Brands from $75.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, February 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Spectrum Brands in a report on Friday, March 27th. Finally, Royal Bank Of Canada set a $85.00 price objective on shares of Spectrum Brands in a report on Friday, February 6th.

Hedge Funds Weigh In On Spectrum Brands

A number of institutional investors and hedge funds have recently made changes to their positions in SPB. Amundi purchased a new position in shares of Spectrum Brands in the first quarter worth approximately $176,000. Millennium Management LLC boosted its holdings in shares of Spectrum Brands by 64.7% in the first quarter. Millennium Management LLC now owns 166,496 shares of the company’s stock worth $11,913,000 after buying an additional 65,424 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in shares of Spectrum Brands by 173.0% in the first quarter. NewEdge Advisors LLC now owns 5,389 shares of the company’s stock worth $386,000 after buying an additional 3,415 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Spectrum Brands by 40.9% in the first quarter. Goldman Sachs Group Inc. now owns 393,084 shares of the company’s stock worth $28,125,000 after buying an additional 114,143 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Spectrum Brands by 6.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 111,571 shares of the company’s stock worth $7,983,000 after buying an additional 6,321 shares during the last quarter.

Spectrum Brands Stock Performance

Shares of NYSE SPB opened at $78.72 on Thursday. The firm’s 50-day moving average price is $74.72 and its 200-day moving average price is $63.51. The company has a quick ratio of 1.38, a current ratio of 2.21 and a debt-to-equity ratio of 0.29. The company has a market cap of $1.83 billion, a PE ratio of 18.18, a PEG ratio of 2.48 and a beta of 0.63. Spectrum Brands has a 52-week low of $49.99 and a 52-week high of $80.42.

Spectrum Brands (NYSE:SPB) last announced its quarterly earnings results on Thursday, February 5th. The company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.63. The firm had revenue of $677.00 million for the quarter, compared to the consensus estimate of $667.59 million. Spectrum Brands had a net margin of 3.76% and a return on equity of 7.65%. The business’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.02 EPS. As a group, analysts anticipate that Spectrum Brands will post 5.06 EPS for the current year.

Spectrum Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 17th were issued a $0.47 dividend. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.4%. Spectrum Brands’s dividend payout ratio (DPR) is presently 43.42%.

About Spectrum Brands

Spectrum Brands Holdings, Inc is a global consumer products company that develops and markets a diverse portfolio of branded household and personal care products. Organized into four principal business segments—Hardware & Home Improvement, Home & Garden, Pet, and Appliances & Personal Care—the company offers a broad range of items including security and plumbing solutions, small electric appliances, grooming tools, and pet care accessories. Its hardware division features well-known brands such as Kwikset, Baldwin and Pfister, while the home appliance segment is anchored by names like Russell Hobbs and Remington.